JOINN released its 2026 interim results showing a sharp rebound in profitability. Net profit attributable to shareholders reached RMB 747.52 million, up 1,126.8% year-on-year, fuelled mainly by a RMB 795.12 million revaluation gain on biological assets.
Revenue increased 5.3% to RMB 703.82 million. Non-clinical studies contributed 96.0% of turnover, while clinical trial and related services accounted for 3.9%. Gross profit rose 38.0% to RMB 144.89 million, lifting gross margin to 20.6% from 15.7% a year earlier. Profit margin expanded to 106.2% (1H25: 9.1%).
Operating expenses were broadly stable: selling and marketing costs grew 10.8% to RMB 16.19 million; general and administrative expenses inched up 0.5% to RMB 144.65 million; R&D spending eased 2.3% to RMB 42.45 million.
Order momentum improved significantly. Newly signed contracts totalled approximately RMB 2.02 billion, up 98.0% year-on-year, taking order backlog to about RMB 3.70 billion, a 60.9% increase versus 30 June 2025.
JOINN’s Suzhou facility passed an unannounced US FDA GLP inspection and completed China’s revised GLP review. The group continued to build NAMs, AI pathology and organoid platforms, and expanded capacity with a 5,000 m² addition in Beijing. The Guangzhou greenfield site completed joint acceptance, positioning the company for further scale-up.
Total assets stood at RMB 10.83 billion, up 11.8% from year-end 2025. Cash and cash equivalents were RMB 823.94 million; financial assets at FVTPL, largely wealth-management products and unlisted fund investments, totalled RMB 2.30 billion. The gearing ratio remained low at 17.1%. Capital expenditure during the half-year was RMB 72.49 million.
During the period, CONNECT H-share awards of 1.43 million shares and 2.64 million restricted A shares were granted to key personnel under existing incentive schemes. The board declared no interim dividend.
Management stated that rising global biopharma funding and the surge in new orders support confidence for the remainder of 2026, while the company will focus on strengthening safety assessment capabilities, accelerating new technology platforms and optimising asset efficiency.